Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $45.00 by Analysts at Mizuho

Rexford Industrial Realty (NYSE:REXR) had its price objective decreased by Mizuho from $46.00 to $45.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

REXR has been the subject of a number of other research reports. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Truist Financial decreased their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.73.

Rexford Industrial Realty Trading Down 0.7 %

Shares of REXR opened at $38.22 on Wednesday. The firm has a market cap of $8.50 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty has a fifty-two week low of $37.67 and a fifty-two week high of $56.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50-day moving average of $40.86 and a 200 day moving average of $45.88.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, research analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Trading of Rexford Industrial Realty

Several hedge funds and other institutional investors have recently made changes to their positions in REXR. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Rexford Industrial Realty during the third quarter valued at $3,376,000. Asset Management One Co. Ltd. lifted its stake in Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock valued at $23,730,000 after acquiring an additional 64,264 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 62.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,234 shares of the real estate investment trust’s stock valued at $1,170,000 after acquiring an additional 10,064 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Finally, M&G PLC boosted its holdings in Rexford Industrial Realty by 24.0% in the third quarter. M&G PLC now owns 935,892 shares of the real estate investment trust’s stock worth $46,795,000 after purchasing an additional 180,940 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.